Gas Prices Hit Labor Day Peak Yesterday. What Did You Pay?

If the answer is yes, then the chances are you found yourself paying the highest price for gas since May, and the highest you’ve ever had to pay for a Labor Day travel.

Highest ever

According to the AAA (via FoxNews), the average price payed in the U.S. per gallon of regular gasoline hit $3.80 over the weekend, with drivers in LA being forced to pay out around $4.14 per gallon.

It isn’t as high as the $4.40 some Californians had to pay earlier this year to fill up, but it is the highest gas prices ever recorded for a Labor day weekend.

Seasonal fluctuations

Of course, gasoline prices do tend to follow a natural fluctuation throughout the year, with national holidays like Thanksgiving and Christmas always attracting a small hike in gas prices as demand goes up.

After the usual summer peak however, gas prices are normally declining by Labor day as families return to work and school.

Triple bad luck

According to the AAA however, the unusually high gas prices this Labor Day, not to mention the 30.8 cent average gas price rise in August, have three distinct causes.

First, the price of crude oil remained high during August.

Second, pipeline disruptions and refinery shutdowns in the MidWest and West Coast areas of the U.S. kept gasoline costs unusually high.

Finally, many refineries along the Gulf Coast were forced to temporarily close as a consequence of Hurricane Isaac, restricting gasoline supply further.

Will it improve?

According to several sources, including the AAA and GasBuddy.com, prices of gasoline should begin to drop over the coming weeks.

But with gas prices generally rising year on year, the days of $3.00 -- or even $3.30 -- per gallon of gasoline are well behind most Americans.

If you filled up your car over the weekend, we’re curious to know just how much you paid per gallon of gasoline, and how far that got you.